BAY REP RT - FEATURE STORY THE KUSPUK PROJECT: PUTTING A FACE TO MISSING OR MURDERED INDIGENOUS WOMEN
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BAYREP RT
WINTER 2018
www.bbnc.net
INSIDE LOOK
Shareholder Portal
and Mobile App
Safety Milestones
Reached for
PetroCard and CCI
Industrial Services
FEATURE STORY
THE KUSPUK PROJECT: PUTTING A FACE TO
MISSING OR MURDERED INDIGENOUS WOMEN
BBNC BOARD
OF DIRECTORS
Joseph L. Chythlook
SAVE THE DATE W HAT’S INSIDE Chairman
Dorothy M. Larson
December 24 Vice Chair
Christmas Eve
Everette Anderson
BBNC office closed 5 9
Peter Andrew Jr.
December 25 SHAREHOLDER
Christmas
SUBSIDIARY Shawn Aspelund
BBNC office closed NEWS NEWS Diedre Hill
December 31 Shareholder Portal Karl Hill
SCF Provides
New Year’s Eve
and Mobile App Prototype “Invisible Hazel Nelson
BBNC office closed
Wounds” Facility to Russell S. Nelson
January 1, 2019 the Air Force
New Year’s Day Marie Paul
BBNC office closed H. Robin Samuelsen Jr.
January 7 Kimberly Williams
Orthodox Christmas
January 14
Orthodox New Year
January 21
Martin Luther King Jr. Day
BBNC office closed
February 15
Deadline for address or
banking changes for March
distribution
February 16
13 15
Elizabeth Peratrovich Day
EDUCATION QUARTERLY
March 1 FOUNDATION NEWS FINANCIALS
BBNC shareholder
distribution
Family Support for Second Quarter
March 4 First Year Students Fiscal Year 2019
BBNC office closed Management CONTACT US
April 5 Discussion and 111 W. 16th Ave., Suite 400
BBNC Education Analysis Anchorage, AK 99501
Foundation scholarship (907) 278-3602 Phone
application deadline ON THE COVER (800) 426-3602 Toll-Free
(907) 276-3924 Fax
Shareholder artist Amber Webb with her award shareholders@bbnc.net
winning kuspuk www.bbnc.net
Published by Bristol Bay Native Corporation
“We will always be a tireless steward of Bristol
Bay and advocate on behalf of our land,
resources, and our people.”
Letter from
the President
BBNC President and CEO, Jason Metrokin
Winter is nearly upon us, and here place that inspires so much passion holiday season, but employee and
at the BBNC corporate office we and action. BBNC has always taken shareholder safety is a priority.
are deep into meeting season. We an inclusive and balanced approach
recently returned from our annual when it comes to our fisheries and fish As we look to the new year, I feel
compliance conference, which gives habitats, to responsible development optimistic—because of people like
us the opportunity to meet face-to- and to our land and water, and we will Amber making a difference, our
face with leaders from our subsidiaries keep doing so in the years to come. hard-working employees and high-
across states and sectors. We Simply put, we are fish first, but not performing companies, and the
discuss the unique complexities of fish only. We will always be a tireless opportunities ahead for BBNC. Both
doing business as an Alaska Native steward of Bristol Bay and advocate in and outside of Alaska, in familiar
Corporation, dive into key issues and on behalf of our land, resources, and sectors and new ones, we are already
training, and strengthen our collective our people. This is our commitment. seeing exciting and diverse paths to
dedication to BBNC’s mission and growth on the horizon. We will pursue
values. I am consistently impressed Our people— the BBNC shareholders those with the same initiative and
with the people I meet and the whose lives we aim to enhance—have focus that has defined us from the
conversations we have at compliance, continued to stand tall with courage start, and with the same innovative
and always head home feeling and conviction in 2018. Our feature spirit at the heart of our Native way of
focused and energized. story is a powerful example of that. life.
The work that Amber Webb is doing
This month, the meetings continue. to bring attention to the plight of I wish you a safe and joyful holiday
Our leadership team will soon report missing or murdered Native women season, and a new year full of
BBNC’s fiscal year progress to-date to is deeply important, and I know it will connection and community.
the board of directors, and adjust our resonate across our region. While With thanks as always for your
planning as needed to close the year there is still much to be done to support,
strong. I am pleased to report that protect others from enduring what
what the board will hear is good news: too many already have, Amber’s art
as we met the six-month mark of is sparking a conversation that needs
FY2019 at the end of September, we to happen. In doing so, she is offering President & CEO
were—and remain—on track to meet affected families in our communities Jason Metrokin
our fiscal goals for the year. On the an opportunity for solace and healing.
heels of our most profitable year ever We are grateful for that, and for the
in company history from a budgeting care and cultural reverence that she
perspective, maintaining that velocity has shown.
has been no small feat.
Due to the earthquake on November
We have, once again, seen fish at the 30, BBNC cancelled the annual
heart of our discourse as a region Bristol Bay Leadership Forum and
this year—just as it should be. Your Christmas party. We are sorry for
voices have been clear and strong, any inconvenience this may have
and it has been our privilege to listen. caused and are disappointed to
We count ourselves lucky to live in a miss the opportunity to gather this
2
Amber’s kuspuk featured at the Portugal. The Man concert in Anchorage
The Kuspuk Project: Putting a Face to
Missing or Murdered Indigenous Women
As a young girl growing up in Dill- What started as a creative way to When asked why she chose a kus-
ingham, BBNC shareholder Amber draw attention to the issue of miss- puk, Amber points to the symbolism
Webb would often see stories about ing or murdered indigenous women the garment holds in Native culture.
missing and murdered indigenous has turned into a project that gives “In Yu’pik culture, kuspuks were
women. Sometimes they were even their families and communities a way often shared throughout the com-
women she knew. These stories to heal. Amber calls it the Kuspuk munity,” Amber said. “Many women
stuck with her and became the mo- Project. She painstakingly draws the would hand stitch clothing for their
tivation for her work as an artist and faces of missing and murdered wom- families as a way of taking care of
activist. en on a kuspuk she hand stitches. them. I think we need to take care of
women in a similar way.”
3
Amber’s first kuspuk displayed the
faces of 47 missing or murdered
women, many from Bristol Bay. It
took her nearly three months to
complete. “I was a little scared.
What if nothing comes of this, what
if nobody pays attention?” But peo-
ple did. Amber traveled around the
state with the kuspuk, often taking it
to unexpected places such as music
performances, where she spoke to
curious passersbys about the project.
In October, the Anchorage Museum
purchased the kuspuk. It will be on
semi-permanent display in the Na-
tive Art section of the museum.
But there are more stories to tell.
The Rasmuson Foundation recently
awarded Amber a grant to work on
her second kuspuk, one she antici- Jason Metrokin and Amber’s mother, Inez Bielefeld
pates will include 300-400 missing or congratulate her on receiving an Individual Artist
murdered women from Alaska, Can- Award from the Rasmuson Foundation.
ada, and the Lower 48. “I wanted
to connect Canada and other States
on this issue,” Amber said, “to help “I hope this project can help people
bring attention to something that
affects Native communities every-
where.” open their hearts and begin to heal.”
significant cultural images—fish, You can reach her by email at am-
water, and land. Having this platform berroylee@gmail.com or through
helped her pay for college and en- Facebook at “Imarpik Ink by Amber
couraged her to continue incorpo- Webb.”
rating cultural elements into her art.
“BBNC has been a positive influence
for me,” she said. “Everyone has
always been so supportive of what-
Amber’s ever I’ve done.”
second
kuspuk will For BBNC, the support is mutual.
feature
300-400 “Amber has shown a lot of cour-
more age by bringing attention to a very
missing or serious issue that unfortunately
murdered
women
affects our entire community,” said
Jason Metrokin, President and CEO.
“These women deserve to have their
Community is an important part of stories told, and Amber is telling
Amber’s life, including her ties to them in a way that both honors
BBNC. Her mother is a longtime them and our culture.”
BBNC employee, and as Amber was
pursuing her bachelor’s degree in If you have a family, friend, or loved
fine arts at the University of Alaska one who is a missing or murdered
Anchorage, she was often one of indigenous woman, Amber would
the craftspeople selling goods at like to help tell their story.
shareholder meetings. She offered
hoodies that she hand painted with
4
SHAREHOLDER
NEWS
Shareholder Portal and Mobile App
Expected to launch in early 2019, BBNC’s online shareholder portal and mobile app will allow shareholders
to view and update the following:
• Address and contact information
• Dividend and direct deposit information
• Income verification letters
• Shareholder verification letters
• 1099 tax information
• Ward information
• Blood quantum affidavit
• Shareholder forms
• Deadline reminders
Keep an eye on your mailbox in late January for registration information!
5
WELCOME
We would like to welcome our newest shareholders to the BBNC family:
Cecilia R. Abell Patricia H. Hodgdon Waylon I. Olson
Kalee J. Alsworth Joshua A. Hodgdon Falina J. Orloff
Jonathan D. Alvarez Jacob D. Hodgdon Jackson Peters
Kendrick Y. G. Andrew Bruce D. Ilutsik Mason A. Phillips
Donald C. Ayojiak Nicholi A. Ishnook Jr. Alec N. Phillips III
Brenda Barfield Monica G. Ishnook Clifford A. Phillips
Fredrick S. Bartman Jaden N. Ishnook Angelina T. Phillips
Sarah C. Berry Nancy J. Johnson Lucas Pittman
Bristol Byayuk Cape J. Kristovich Larry W. Pittman
Buddy E. Chunak ILeah S. Kvasnikoff Atticus H. D. Radmer
Kyle Clark Isley-Jean Y. Kvasnikoff Frances Regan
Herman K. Davis Sr. Ivory-Basil J. Kvasnikoff Jason R. Riddle
Herman K. Davis Jr. Jordan L. Kvasnikoff Allan R. Riddle
Mark F. Davis Jakob T. Kvasnikoff Cody C. M. Roehl V
Eve B. Davis Kristina L. Kvasnikoff Charles A. M. Roehl IV
Bernadine L. Erickson Katie S. Langford Donald J. Ruhl
Bertha Espinoza Ronney G. Larson Marie A. Sampson
Kenan R. Geagel Mitchell Lind Jr. Snow Sharp
Abigail S. Gessner Jarin Lind Michael Spoon
Lucas W. Gessner Patsy K. Monsen Joyce A. M. Stermer
Jacob J. Gordon Aria P. Naficy Celleste S. D. Tuday
Adaira K. Gordon Peggy J. Nekeferoff Hannah M. L. Walcott
Sophia A. Gruber Helen A. Nelson Letishia A. Walcott
Ava E. Gruber Candice C. Nielsen Mary Jo Waldron
Faith D. S. Hevenor Cody C. E. Norbert Teagan K. L. Wassillie
Deenaalee S. C. Hodgdon Dempsey A. Olson Joanie C. Wassillie
TWO WAYS TO WIN CASH!
Each quarter, all shareholders who have a direct deposit and/or a stock on file that has been updated
within the last five years with BBNC are entered into prize drawings. Sign up for direct deposit and/
or submit your completed stock will before February 15 to be entered into the next drawing. Find the
direct deposit and stock will forms online at www.bbnc.net under ‘Shareholder Resources’.
2018 Winter Direct Deposit 2018 Winter Stock Will
Winners: Winners:
$500 - Amelia S. Golia $500 - Clayton W. Gottschalk
$250 - Lori Roque $250 - Christine W. Brandon
$250 - Matrona Afonin $250 - Amos Eric Bavilla
$250 - William Whitaker $250 - Shirley Annie Koktelash
$250 - John Wonhola $250 - Jimmy S. Coopchiak
$100 - Jeanine Wallace $100 - George Gusty Tugatuk
$100 - Aaron Lomack $100 - Alexie E. Gust Jr.
$100 - Edna Combs $100 - J’amy N. Richardson
$100 - Beatrice Swank $100 - Matthew T. Lee
$100 - Agnes Samuelson $100 - Constantine Backford 6
Maintenance Technician Constantine Backford shows Energy Auditor
Jim Fowler the air handing system at the Choggiung Building. Photo by
M. Jayne Bennett
Energy Efficiency Improvement Grants
for Commercial Fishing Vessels and
Small Businesses
Southwest Alaska Municipal $500 and $625; the improvement
Conference (SWAMC) is offer- grant covers 25% of an upgrade.
ing low-cost energy audits and For example, a commercial fisher
access to a US Department of looking to purchase and profes-
Agriculture (USDA) energy ef- sionally install a RSW system for
ficiency improvement grant for $50,000 would be reimbursed
small businesses in Bristol Bay. $12,500 by the grant.
Small, for-profit businesses are
eligible for the program including For buildings, the energy audit
commercial fishing vessel owners and improvement grant can focus
and building owners – offices, on the whole building or target Jim Fowler and Gabe Dunham discuss energy
upgrades. Photo by M. Jayne Bennett
warehouses, stores, restaurants, problem areas such as heat loss
multi-family residences, hotels, due to inadequate insulation, adding insulation) and interested
and more. high fuel use due to an old heat- in tapping into the improvement
ing system, excessive electricity grant to cover future costs.
For fishing vessels, the energy use from inefficient lighting or
audit and improvement grant refrigeration system, and more. To learn more or find out how
target energy efficiency upgrades The cost of an audit depends to register your vessel or build-
like installation of an RSW sys- on the size of the building and ing for the program, check out
tem and higher performance starts at $150. This program is for http://www.southwestakenergy.
hydraulic pumps and gensets as business owners looking to get a org/, email energy@swamc.org,
well as insulation of fish holds, handle on their energy costs or or call Jamie Hansen, the pro-
and lighting switch outs. The cost businesses planning to upgrade gram administrator, at (907) 450-
of the audit is typically between (such as replacing a boiler or 2461.
7
BBNA’S REGIONAL ENERGY
COORDINATOR IS DEVELOPING A
NETWORK OF
ENERGY CHAMPIONS
Did you know that BBNA has an energy program to help Bristol
Bay communities lower their cost of energy?
Bristol Bay Native Association is looking for Energy Champions to provide BBNA with local input as they work to:
• Help communities with project development on energy efficiency and renewable energy projects
• Connect communities looking for technical assistance and funding resources
• Identify and assist with energy training and education needs
• Help tribes develop a community energy plan with the Department of Energy’s FREE program
An Energy Champion is someone who can:
• Speak for the community and your energy needs
• Represent your community at regional energy meetings
• Be BBNA’s “go-to” person in the village as they share information about meetings, energy technology, and fund-
ing opportunties
• Gather support letters, resolutions, information, and photographs as needed to move energy projects along
• Must have basic computer, email, and phone communications skills
If interested, contact Jayne Bennett, BBNA Regional Energy Coordinator, at (907) 842-6224 or jbennett@bbna.com
Jayne is working with 31 villages throughout the Bristol Bay region, coordinating with a network of communications
between communities and State and Federal agencies to share information. Collaborating and advocating for com-
munity energy needs and projects. Jayne also assists communities with energy planning, technical assistance, and
funding.
IN MEMORY
BBNC Board and staff extend our sincere condolences to the family and friends of those who have passed on.
Margaret M. Active Janet A. Jensen Martin Buddy Reyes
62, Togiak, AK 69, Wasilla, AK 86, Seattle, WA
Charles Andrew Andrew H. Jones Freeman Alexander Roberts Jr.
75, Levelock, AK 74, Anchorage, AK 76, Colusa, CA
Douglas Artemie Charlie Harold Murphy Bairad A. Togiak
48, Seward, AK 77, Dillingham, AK 18, Togiak, AK
Jesse Ayojiak Sr. Darrin C. Nanalook Gust Tunguing Sr.
84, Manokotak, AK 23, Manokotak, AK 89, Koliganek, AK
Jenna R. Delkittie Lloyd G. Napouk Bessie Anna Wahl
23, Anchorage, AK 44, Soldotna, AK 79, Dillingham, AK
Frederick W. Hadden Sophie Phillips R.A. Williams
75, Shelton, WA 70, Anchorage, AK 65, King Salmon, AK
Irene E. Hendricks Franklin Joseph Prince Gabriel Zharoff
84, Sun City, AZ 67, Anchorage, AK 69, Egegik, AK
8
SUBSIDIARY
NEWS
SCF Prototype “Invisible Wounds”
Facility to the Air Force
SES Construction and Fuel for the 18,467 gross square
Services LLC (SCF) designed and foot clinic in just 365 calendar
constructed an Invisible Wound days. The new facility includes
Center (IWC) at Eglin Air Force treatment rooms, an administration
Base, Florida. As the first of its area, reception and waiting
kind for the Air Force, the IWC room, a breakroom, a training/
is a state-of-the-art prototype demonstration kitchen, a musical
facility that will provide outpatient therapy room, an art room, and a
healthcare services for patients physical therapy gym. Constructed
with complex medical conditions, on an existing asphalt parking lot,
including traumatic brain injury, the IWC consists of 24 modules
behavioral health, chronic joined together to create a facility
pain and related conditions. In with more than 80 rooms.
addition, the facility is modular
and can be relocated to other Because the facility is located in
bases as needed. The result is a an area of the country threatened
transportable set of buildings that by hurricanes, the steel and wood
meet hurricane force structural frame modules were designed to
requirements and serve to provide withstand 150 mph wind loads.
critical care services to our
wounded warriors. The facility opened on August 8, SCF’s office at Fort Walton Beach,
2018. Three Air Force generals which was established in 2017 to
The contract for the prototype have inspected this fast-tracked, provide construction services at
for the IWC included the design, high-profile project, which the Air nearby Eglin and other military
construction, and provision of Force intends to place throughout bases along Florida’s Emerald
furniture, fixtures and equipment their bases at home and overseas. Coast on the Gulf of Mexico.
The project was managed from
9BBI WELCOMES SHAREHOLDER
SUCCESS AT BRISTOL DEVELOPMENT SPECIALIST, JEANETTE
ALLIANCE FUELS LECLAIR
Bristol Bay Industrial is pleased to
BBNC Shareholder, Charles welcome BBNC shareholder, Jea-
Wassily, completed Northern nette LeClair to the organization.
Industrial Training’s Professional Jeanette joins us from the An-
Truck Driving program this past chorage School District where she
June. The program is centered worked as both the Title VI Indian
on a hands-on learning approach, Education Counselor and a gradua-
tion support coordinator for Alaska
which prepares students for
Natives, Native Americans, and at-
success in the truck driving
risk youths at Dimond and Bartlett
industry as they pursue their Class high schools in Anchorage.
A CDL license. This training was
provided to Charles through the A graduate of Dillingham High in Dillingham, I have strong ties to
collaborative efforts of BBNC School and Fort Lewis College the region. I am committed to giving
and Bristol Alliance Fuels. Since in Durango, Colorado, Jeanette back to the Bristol Bay communities
completing the program, Charles earned a bachelor’s degree in and look forward to working with
obtained his CDL license and interdisciplinary studies/elementa- our shareholders,” said LeClair.
has now transitioned to a Fuel ry education. She is dedicated to
Technician position in Dillingham. assisting shareholders, spouses, and Please contact Jeanette for assis-
Congratulations, Charles! descendants find opportunities with- tance at (907) 263-7056 or at
in the BBI companies. “Growing up jeanette.leclair@bbindustrial.com.
SAFETY MILESTONES REACHED FOR PETROCARD
AND CCI INDUSTRIAL SERVICES
PetroCard and CCI Industrial Other changes include weekly The key to their performance lies
Services have recently reached management safety meetings, an within the observation program.
significant safety milestones. employee-led safety committee, A strong program includes an
PetroCard hit the one year mark and a refresh of existing safety open work environment where
without a workplace injury this policies and procedures. “With employees feel comfortable
past September and CCI Industrial these new changes and a safety bringing up issues they notice,
Services’ Tanks, Blasting, and culture built upon each and every before an accident occurs. They
Coating (TBC) group completed employee’s commitment to looking also provide an opportunity
three years without a recordable after themselves and each other, I to identify areas that may be
incident in October. envision more great years ahead,” plaguing an organization, such
said Bond. as equipment or environmental
PetroCard has improved their issues. But mostly, when used
performance significantly from To achieve CCI Industrial Services’ liberally, observations demonstrate
last year, due in part to a change three-year milestone, the TBC a strong, proactive safety culture at
in leadership and a culture shift group completed more than every level within the organization.
that has brought awareness 275,000 man-hours and performed
to the forefront of everything more than 2,500 proactive safety “Going three years recordable-
they do - from cardlocks and observations while performing free during challenging industry
mobile fleet fueling operations abrasive blasting work for BP times, large work ramp-ups,
to ergonomics in the office. “It throughout Prudhoe Bay. To put and ramp-downs is a testament
takes everyone working together that into perspective, that means to the group’s commitment to
in order to achieve this injury- 69 observations were performed safety, work ethic, teamwork, and
free status,” said Bobby Bond, every month for 36 consecutive leadership,” said CCI Industrial
PetroCard’s health, safety, months. Services President Bob Eubank.
security, and quality manager.
10PetroCard Recipient of 2017 MBE to MBE
Inclusion
This past summer, PetroCard was who look to diversify and qualify for 13 years of involvement
presented the 2017 MBE to MBE for supplier diversity spend. As with the organization at the
Inclusion Award by the Northwest companies look to work with NW MSDC 40th anniversary
Mountain Minority Supplier us due to our services and MBE breakfast. “Jennie Hanson has
Development Council (NW certification, PetroCard also looks developed close and productive
MSDC) for efforts in working with to do the same with other MBE relationships with council staff and
other minority businesses in the companies,” said Jennie Hanson, industry participants and has been
Pacific Northwest. The Council’s director of sales and marketing at instrumental in growing both our
focus is to aid in the growth and PetroCard. The nomination was support of other MBE’s and our
development of minority-owned based on the number of vendors recognition as a MBE supplier. It
businesses. and relationships through the NW was clear to me from this event
MSDC. how much these efforts are
“As a certified Minority Business appreciated by council leadership
Enterprise (MBE), our certification In addition to the MBE award, and participants,” said PetroCard
provides value to our customers PetroCard was also recognized President Laura Yellig.
11MCCOOL REJOINS PEAK AS VICE
GOT FUEL? PRESIDENT, NORTH SLOPE OPERATIONS
FREE HEATING AND DEVELOPMENT
FUEL PROMOTION Ian McCool, who previously
served as project manager for
HONORS BBNC Peak’s North Slope construction
ELDERS division, rejoined the company
as vice president of North Slope
operations and development,
in October. In this role, he will
focus on leading the North Slope
team and directing all operations,
planning, and execution for
the region as well as growing
the company through strategic
business development.
Based in the company’s Anchorage
Dillingham, Alaska - For the month office, Ian brings more than eight
of December, Bristol Alliance Fuels years of project management
is offering a $55 gift certificate to experience overseeing the
“Ian brings a depth of experience
elders (65 and older) in celebration execution of capital and
in construction, maintenance, oil
of the incorporation of the City of major maintenance projects
and gas, and processing,” said
Dillingham - 55 years ago. This one in the downstream oil and gas
Cody Gauer, Peak’s president
time giveaway, good for heating fuel and chemicals sectors in the
and chief executive officer. “His
including free home delivery, honors southwestern U.S. as well as in
knowledge in major project
the hard work of BBNC’s founding the Gulf of Mexico. Additionally,
execution, field operations, and
shareholders in building the town he was responsible for overseeing
strategic planning, as well as his
we live and work in today, and is one construction, maintenance, and
established relationships with
way the company is striving to give operations contracts for major
major clients, will be a valuable
back to the community. Certificates clients on Alaska’s North Slope.
asset to the Peak team as he
are non-transferable and good until A graduate of Clemson University,
continues to grow and develop our
midnight on December 31, 2018. Ian graduated cum laude with a
arctic portfolio.”
bachelor’s in civil engineering.
PETROCARD PARTICIPATES IN TRIBAL CONVENIENCE STORE SUMMIT
In September, PetroCard man- practices in gas station and con- broadly benefits the group.
agement and sales staff, including venience store operations among At this year’s meeting the Tribal
Stephanie Seretis and Stephanie members. Gas stations and conve- Summit Group announced its re-
Heilman, attended the 2018 Tribal nience stores have grown rapidly in branding as the Tribal Convenience
Summit Group Membership Meet- Indian Country in the Pacific North- Store Association. A highlight for
ing and Mini-Tradeshow hosted by west, driven predominantly by tribal the founders is an invitation to
the Suquamish Tribe at the Suqua- economic diversification efforts and speak during a tribal development
mish Clearwater Resort and Casino. a high volume of job opportunities. opportunities seminar at the Na-
PetroCard attended the annual tional Congress of American Indians
meeting for the first time as a par- The Tribal Convenience Store Asso- 75th Annual Convention in Denver,
ticipant and mini-trade show ven- ciation has grown to include nearly Colorado.
dor in an effort to forge local tribal 30 tribes spanning multiple states.
relationships and educate members The group meets three times per As an Alaska Native-owned bulk
on the company’s Native ownership year and each meeting is hosted fuels supplier, PetroCard looks to
and bulk fuel offering. by a member tribe. The group has increase sales and support to tribal
succeeded in establishing a peer gas station operators in the Pacific
The Tribal Summit, a professionally network across tribal sites and has Northwest and this association is
managed 501(c)(6) non-profit, was partnered with industry leaders to another step in that direction.
established in 2012 to share best deliver educational content that 12Cama’i,
BBNCEF BOARD
OF DIRECTORS Do you know a
student who’s
Marie Paul currently enrolled in
President
college, university or
Dan Cheyette short-term training
Vice President program?
Andria Agli
Secretary BBNC Education
Foundation has
Patrick Patterson III continued with our
Treasurer
popular Facebook
Rayn Aaberg series “Ask Angela.”
Director Angela is tackling lots of great issues that students face, including how many families
Annie Fritze can support them while they are enrolled.
Director
The first year can be a tough time of transition, and students can experience some
Katrina Johnson
Director common challenges around time management, new academic demands, making
friends, and being independent and responsible for balancing work, social, life, sleep,
Jason Metrokin and their budget!
Director
Michelle Ravenmoon There are great ways that families can provide support:
Director
• Help your student stay connected to activities at home. Acknowledge that
BBNCEF STAFF students might to sad to miss things like subsistence activities, birthdays, holidays,
community and other important events.
Aleesha Towns-Bain
Executive Director
• Reassure students that they can succeed in their new environment. Talk about study
Angela Peacock skills, time management tips, and what resources are available on campus.
Program Manager
Ricardo Lopez • Send care packages with notes from home, food and other treats!
Program Officer
Irene Fritze • Connect with students and ask questions. Here are some ideas:
Office Administrator • How are you preparing for finals?
Mary Sherbick • What do you like about your classes?
Program Assistant • Have you decided what you’ll do for your holiday break?
• Are you thinking about joining any clubs or groups this year - which ones?
BBNC Education • Have you met with any of your professors or instructors?
Foundation
111 West 16th Ave. As we all know, a bit of encouragement can go a long ways when it comes from student
Suite 400 success. Do you have ideas for the BBNC Education Foundation? You can always reach
Anchorage, AK 99501 me at (907) 265-7875 or atowns-bain@bbnc.net
(907) 278-3602 Quyana,
bbncef@bbnc.net
Aleesha Towns-Bain
www.bbnc.net/bbncef
13w
STUDENT
SHORT-TERM VOCATIONAL EDUCATION SPOTLIGHT
SCHOLARSHIP PROGRAM
BBNCEF makes awards for the Short-term Vocational Education Program (STVE)
throughout the year. Are you considering an application? STVE scholarships, up
to a maximum of $1,000, are awarded to shareholders for short-term vocational/
certification training programs that enhances opportunities for employment or
promotion. For complete program eligibility requirements and application, visit
www.bbncef.org. Applications may also be requested by mail by contacting the
Foundation at (907) 278-3602.
CONGRATULATIONS TO STVE SCHOLARSHIP AWARDEES 2018
AWARDEES FROM LATE AUGUST TO LATE OCTOBER 2018!
Martha Anelon Bert Johnson David Parazoo Kendra Delk, from An-
chorage, Alaska, recently
Naidene Baechler Nick Johsnon Cathleen Perez graduated with Magna
Stephanie Caldwell Casey Kalmakoff Terry Stepanoff Cum Laude honors from
Haskell Indian Nations
Sarah Catalone Clyde Kimpton Devonte Trefon University, where she re-
Kyle Catalone Jesse Kurtz Tiana Turner ceived a bachelor’s degree
in business administration
Justin Dye Jeweline Lakshas Acacia Walton with an emphasis in man-
Tiarna Fischler Gabriel Larson Danny Wassily agement.
Earlene Franklin Galin Lind Chadwick Wikheim
Kendra recently accepted
Nils Gronn Petla Marian Anthony Wikheim a position as Marketing/
Jack Hansen Kristin Minard Administrative Support
Rick Wysocki
with Aerostar, SES, a sub-
Brenton Hinkle Adrianne Neketa Isaiah Yanez sidiary of BBNC located
Joel Jacko Jose Osborne in Jacksonville, Florida.
This was a career goal she
set out for herslef. Kendra
ATTENTION STUDENTS AND POTENTIAL wants to be a role model
APPLICANTS by showing the Native
community the importance
If you received a 2018-19 Higher Education/Vocational Education (HE/VE) of higher education.
scholarship, please remember to order your official paper transcripts and have
them sent to the BBNCEF office at 111 West 16th Avenue, Suite 400, Anchorage, When she’s not working,
AK 99501 as soon as your fall/winter grades are posted. This will help expedite the she enjoys hiking, sewing,
spring disbursements and help minimize the possibility of late fees. Questions? Call and golfing. She loves
our office at (907) 278-3602. topics such as fashion,
business, finance, health,
The BBNCEF 2018-19 applications for the Higher Education/Vocational Education and the environment.
(HE/VE) Scholarship Program are available. Applications must be completed
and received by 5 p.m. on April 5, 2019. We encourage students to start their Have you graduated and
applications early to ensure all requirements are received before the deadline. want to share your suc-
cess story? Contact us at
Applications for this scholarship program are reviewed once a year. To apply for bbncef@bbnc.net.
this scholarship program available through BBNCEF, you must be an eligible BBNC
shareholder. For information about gifting of shares, contact BBNC at (907) 278-3602.
For complete eligibility criteria, visit www.bbncef.org. Applications may also be
requested by contacting the Education Foundation at (907) 278-3602.
14FINANCIALS
Second Quarter Fiscal Year 2019
Management Discussion and Analysis
This Management Discussion and Analysis presents information regarding BBNC’s financial activities and is
intended to be read along with the quarterly financial statements to provide insight into major factors influ-
encing BBNC’s financial performance.
Before expenses or benefits for income tax and noncontrolling interest, BBNC earned $30.9 million for the first
two quarters of FY2019, compared to earnings of $32.3 million during the same period last year. BBNC’s net
earnings for the first two quarters of FY2019 totaled $22.0 million, an increase of $2.7 million compared to last
year, and $3.8 million below the current year budget. The financial results reflect a large reduction in tax expense,
primarily due to a $6.7 million reduction in deferred tax liabilities as a result of the significant federal corporate
income tax rate change from 35% to 21% in the Tax Cut and Jobs Act which was signed by President Trump on
December 22, 2017.
BBNC generates earnings through investment in three BBNC owns subsidiary operating companies in four
distinct types of activities: distinct lines of business:
• Subsidiary operating companies • Industrial services
• A portfolio of public and private passive • Construction
investments
• Government services
• Natural resource revenues • Tourism
15ON BALANCE
FOLLOWING ARE THE CONSTRUCTION TOURISM
The Construction line of business The Tourism line of business, con-
RESULTS OF BBNC’S sisting of the holding company
is comprised of three distinct com-
MAJOR OPERATIONS BY pany groups: the Bristol companies, Bristol Bay Alaska Tourism, and its
THE TYPE OF ACTIVITY: the CCI companies (excluding CCI subsidiary companies Mission Lodge
Industrial Services) and the SpecPro and Katmailand, Inc., generated
RESULTS OF MAJOR Environmental Services (SES) com- revenues of $12.3 million, and net
OPERATIONS panies. Through the first two quar- earnings of $2.8 million for the first
ters of FY2019, the Construction two quarters of FY2019 compared
INDUSTRIAL SERVICES business line generated combined to revenues of $9.8 million and net
The Industrial Services line of busi- EBIT of $6.2 million, a decrease from earnings of $2.1 million for the same
ness consisting of the holding com- the $10.8 million earnings generat- period last year. Both Mission and
pany Bristol Bay Industrial, and its ed for the same period last year and Katmailand, Inc. lodge operations
subsidiary companies Peak Oilfield $2.9 million below the current year are seasonal and all of the earnings
Service Company, Kakivik Asset budget. Revenues of 252.4 million are generated during the summer
Management, CCI Industrial Ser- were generated for the same period, months, primarily in July and August.
vices, Alaska Directional, PetroCard, up from the $236.8 million report-
and Bristol Alliance Fuels generated ed last year. The Bristol companies PORTFOLIO OF PUBLIC
combined EBIT (earnings before had an increase in EBIT from a $3.0 AND PRIVATE PASSIVE
interest and taxes) of $12.0 million million profit in FY2018 to a $4.7 INVESTMENTS
for the first two quarters of FY2019, million profit in FY2019, and a 7.4%
increase in revenues to $76.5 million. BBNC’s portfolio of liquid public and
an improvement of $14.6 million
The CCI companies’ EBIT decreased private passive alternative invest-
compared to last year. Revenues
slightly from $2.7 million in FY2018 ments, valued at $222.3 million,
for the first two quarters of the year
to $2.1 million in FY2019 and rev- generated total returns of 1.74% for
totaled $525.4 million, 18.1% higher
enues of $98.3 million increased the liquid portfolio and 10.77% for
than last year.
by 6% from the prior year. The SES the alternatives portfolio, or a $3.9
companies had a decrease in oper- million gain through the first two
Peak’s year-to-date losses are quarters of FY2019. Fiscal year-to-
significantly lower than prior year ating earnings from the prior year
of $5.1 million in earnings to a $0.6 date portfolio earnings were below
and budget due to the result of the current year budget by $6.6
decreased expenses through ag- million loss and had an increase in
revenues of 10% to $77.6 million. million and were $11.6 million below
gressive cost control management. the same period last year, reflective
Kakivik’s earnings totaled $4.8 mil- of continued trends in securities
lion which is up from last year, and GOVERNMENT SERVICES
The Government Services line of markets. BBNC’s investment policy
revenues of $36.6 million increased provides for a diversified portfolio
45.7% from prior year. CCI Indus- business is comprised of one man-
aged group, the STS group. The of investments with allocations to
trial Services earnings for the first publically traded equities and fixed
two quarters of the year totaled business line generated EBIT of
$13.5 million in the first two quarters income, alternatives and cash. Unlike
$2.0 million, down 7.8% from last equity and fixed income securities,
year, and revenues of $18.2 million of FY2019, a decrease of $1.3 mil-
lion compared to the same period alternative investments are often
were also down 14% from last year. illiquid and non-publicly-traded.
Alaska Directional earnings for the last year. Revenues of $124.2 million
first two quarters of the year totaled were reported for the first two quar-
NATURAL RESOURCES
$0.7 million. PetroCard’s earnings ters of FY2019 which was a decrease
Natural resource revenues gener-
totaled $5.3 million which is up of $18.5 million from the same
ated $2.9 million in earnings for the
24.3% from last year, while revenues period last year.
first two quarters of FY2019, an
of $404.0 million also increased increase of $0.9 million from the
15.9% from prior year. Bristol Alli- same period last year.
ance Fuels generated earnings of
$0.3 million compared to $0.1 mil-
lion last year, while revenues of $5.8
million also increased 20.5% from
prior year. 16BRISTOL BAY NATIVE CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(unaudited)
ASSETS
SEPTEMBER 30, SEPTEMBER 30,
FY2019 FY2018
CURRENT ASSETS
Cash and Cash Equivalents $ 37,949 53,840
Marketable Securities 141,308 168,827
Accounts Receivable 188,840 161,466
Inventories 9,288 5,294
Costs and Earnings in Excess of Billings 24,912 17,403
Prepaid Expenses and Refundable Taxes 4,064 6,087
TOTAL CURRENT ASSETS 406,361 412,917
Investment in Unconsolidated Affiliate 81,011 67,882
Other Assets 2,597 9,997
Property, Plant and Equipment, at Cost
Land 16,778 14,458
Building 62,079 61,600
Leasehold Improvements 28,121 28,072
Machinery and Equipment 172,374 170,260
279,352 274,390
Less Accumulated Depreciation–fixed assets 130,006 119,850
NET PROPERTY, PLANT AND EQUIPMENT 149,346 154,540
Intangible Assets, Net 23,140 26,808
Goodwill 41,747 41,719
Deferred Tax Asset 14,097 –
TOTAL ASSETS $ 718,299 713,863
LIABILITIES & STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Notes Payable $ 6,084 3,408
Accounts Payable 81,953 71,608
Accrued Liabilities 67,961 71,931
Billings in Excess of Costs & Earnings 19,405 24,401
Unclaimed Dividends 1,493 2,102
Current Maturities on Long-Term Debt 4,259 6,719
Current Portion of Capital Lease - -
Deferred Tax Liability–Current Portion - -
Income Tax Payable - 9,976
TOTAL CURRENT LIABILITIES 181,155 190,145
Long-Term Debt, Less Current Maturities 39,521 90,682
Deferred Tax Liability Long Term Portion - 25,781
TOTAL LIABILITIES $ 220,676 306,608
STOCKHOLDERS’ EQUITY
Class A Common Stock 29,571 29,571
Class B Common Stock 3,124 3,124
Retained Earnings 457,117 374,124
TOTAL STOCKHOLDERS’ EQUITY 489,812 406,819
NONCONTROLLING INTEREST 7,811 436
TOTAL STOCKHOLDERS’ EQUITY 497,623 407,255
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 718,299 713,863
17BRISTOL BAY NATIVE CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF EARNINGS
(unaudited)
QUARTER ENDED YEAR-TO-DATE ENDED
SEPTEMBER 30 SEPTEMBER 30
(in thousands) (in thousands)
FY2019 FY2018 FY2019 FY2018
REVENUES
Industrial Services $ 262,494 225,101 525,364 430,517
Construction 123,372 121,835 252,383 236,847
Government Services 61,512 68,670 124,228 142,728
Tourism 9,873 8,139 12,333 9,804
Investment Earnings 3,422 8,458 3,872 15,441
Natural Resources 368 502 2,944 2,065
Other 1,190 756 3,031 2,048
462,231 433,462 924,155 839,450
COSTS AND EXPENSES – –
Cost of Industrial Services 256,338 226,545 513,331 433,078
Cost of Construction 121,384 115,528 246,156 226,050
Cost of Government Services 54,872 61,328 110,693 127,920
Cost of Tourism 6,020 4,832 9,525 7,669
Cost of Investment Management 108 144 255 262
Corporate General and Administrative Expense 4,509 6337 10,555 9,451
Interest 594 603 1,025 1,395
Other 1,376 1,141 1,744 1,371
445,201 416,457 893,284 807,196
Earnings from Operations 17,030 17,004 30,871 32,254
Income Tax (benefit) Expense 3,864 6,808 7,330 12,908
NET EARNINGS 13,166 10,196 23,541 19,346
Less Income Attributable to Noncontrolling
(1,155) - (1,599) (97)
Interest
NET EARNINGS ATTRIBUTABLE TO
$ 12,011 10,197 21,942 19,249
BRISTOL BAY NATIVE CORPORATION
18PRESORTED
STANDARD
U.S. POSTAGE
PAID
ANCHORAGE, AK
PERMIT NO. 238
111 W. 16th Ave., Suite 400
Anchorage, AK 99501
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